During the Council of Ministers presided over by his majesty king Mohammed VI, may God assist him, on Friday October 18, 2024 at the Royal Palace in Rabat, and in accordance with the provisions of Article 49 of the Constitution, the Minister of Economy and Finance made a presentation to his majesty the king on the General Guidelines of the Finance Bill for the year 2025.
The Minister pointed out that the preparation of this draft is taking place in a difficult international context, marked by continuing geopolitical tensions and the accentuation of climatic crises. Despite this situation, Morocco has been able, under the far-sighted leadership of his majesty the king, may God preserve him, to pursue economic and social reforms, while maintaining the sustainability of maroeconomic balances, with
the growth rate set to reach 3.3% in 2024.
The Minister added that the Finance Bill is structured around four priorities, each acting as a lever to consolidate social cohesion, immunize economic sovereignty and create the conditions necessary for future generations to flourish.
Firstly, to continue strengthening the pillars of the welfare State, in particular through the smooth and efficient implementation of the project to generalize social protection. After the introduction of compulsory basic health insurance, we will complete the work on direct social assistance, which now covers some 4 million households, in conjunction with the ongoing reform of the healthcare system.
In addition, the roadmap for the reform of the education system will continue to be implemented, as well as support for social dialogue. Work will also be completed on the reconstruction and general rehabilitation of areas affected by the Al Haouz earthquake, and the rehabilitation of areas affected by flooding in the south-east of the Kingdom.
Secondly, to consolidate the momentum of investment and job creation, in line with the High Royal Instructions, by stimulating private investment and implementing the Investment Charter, with a particular focus on speeding up the approval process for investment projects and continuously improving the business climate.
We will also support public investment and pursue the structuring projects currently underway, notably the Generation Green strategy, projects linked to the green hydrogen sector, the transition to clean energies and the roadmap for the tourism sector.
We will ensure that water resource management is a top priority, accelerate the implementation of the national drinking water supply and irrigation program, and give prime importance to the implementation of mega-projects linked to preparations for hosting the 2030 World Cup.
At the same time, we will be implementing a concrete roadmap for employment promotion, based on an integrated, multi-dimensional approach designed to stimulate the investment dynamic, particularly in sectors with a high impact on job creation, while strengthening support for very small, small and medium-sized enterprises and optimizing the impact of active employment programs, in addition to mitigating the effects of drought on employment in rural areas.
Thirdly: the continued implementation of structural reforms, headed by the reform of the justice system, through the completion of the legislative and regulatory frameworks linked to the implementation of this reform, the pursuit of efforts for the generalization of family courts and the modernization of the judicial administration as well as its digital transformation.
We will also be pursuing the implementation of advanced regionalization and the reform of public establishments and companies, notably through the implementation of the strategic orientations of the State's shareholding policy.
We are also working on reforming the organic law on the Finance Act and continuing to implement the law on tax reform.
Fourthly: safeguarding the sustainability of public finances, by implementing the necessary measures to ensure the gradual restoration of financial equilibrium and the necessary financing of planned projects, while at the same time reducing the budget deficit and restoring the financial margins needed to cope with future risks and crises.
The Minister emphasized that the general guidelines of the Finance Bill are designed to maximize the impact of the strategies implemented on our country's development process, and achieve a substantial economic rebound, with
a growth rate of 4.6% in 2025 and an inflation rate limited to 2%.